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TRANSCRIPT
Page 1
President’s Message
MININEWS
Take advantage of our monthly publication by sharing your ideas with us. CSMFO is
always seeking input from all members on topics in any
department section. Don’t forget to visit the
website at www.csmfo.org for the latest news
or call us at 916/658-8210!
THE NEWSLETTER OF THE CALIFORNIA SOCIETY OF MUNICPAL FINANCE OFFICERS
The MININEWS is your newsletter!
January 2007
Notes On A Scoreboard...
See our Professional Services
Throughout the MiniNews
By Mark Alvarado, Director of Administrative Services, City of Monrovia
Happy New Year!Welcome to 2007 and our new
Electronic MiniNews
(Continued on next page)
I hope everyone had a wonderful Christmas and a great holiday season! As dysfunctional as your family may be, take solace in the fact that your neighbor’s family is probably more screwed up than yours! Remember, life is just a matter of perspective!...My wife and I received a Christmas card from the pizza place down the street. That’s not a good thing, huh?...Am I the only person left without an iPod? I still have my case with tapes in my car. Re-member the home made tapes you would make and label them “cartunes”??...Where have the good old days gone?...“No matter how rich you become, how famous or how powerful, when you die the size of your funeral will still pretty much depend on the weather.” - Michael Pritchard…The wife comes home from shopping before Christmas with bags from Nordstrom, Baby Gap, and Crate & Barrel. I knew I was in big trouble. But she found an old Mel Torme album at the 99 cent store. (Guess which store is mine?). I still have a turntable that I play old albums on. Mel Torme is up there with Frankie and company…The album was recorded live at the Paul Mas-son winery. Bring back any memories?...Congratulations to the three new board mem-bers of CSMFO. Karen Brust will start a three year term as president-elect, president, and then past president. The good news for Karen is that her time commitment will not change! She is so active right now in the organization, it’s amazing! Congratulations Karen. You will be a great president!...Congratulations to David Cain and Scott Johnson for winning the south and north board members spots, respectively. I know each of them will do a great job of keeping the organization going full steam ahead…
Our 2007 conference is coming up re-ally quickly. Check our website (there’s that plug again!) for the details. Make your hotel reservations as soon as possible. Multiple hotels will be used this year…“The real happy person is the one who can enjoy the scenery on a detour…”Some chapters may still be going through the process of selecting a chair for 2007. If you have any inclining of wanting to step up and be a chapter chair, I wholeheartedly encourage you.You will not be disappointed. Go ahead, step up!...Do you do fake Christmas trees? Please say no…“Vision without action is a daydream. Action without vision is a night-mare.”…One of our commercial vendors gave me a great perspective on being at home with the kids. I made the comment that I help out as much as I can around the house, including babysitting. The correct perspective is “As a parent, you never “baby-sit” your kids…you spend family time with them”. So true…Speaking of our commercial vendors, on behalf of our organization, let me say thank you for your support this past year. We sometimes get carried away looking to you for support and forget to say thanks for being a big part of our group…At the last San Gabriel chapter meeting, we gave all of our commercial members a small gift (cookies and a CD). I wish all the commercial members could have been there…
What you’ll find inside…
2007 Intermediate Government Training
Congratulations New California CPFO’s
Policies and Procedures Up-date
Yield Enhancement Exchanges
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2007 CSMFO
CSMFO MININEWS
Officers and Directors
President, Mark Alvarado, Monrovia
President-Elect, Brad Grant, Merced
Past President, Janet Salvetti, Stockton
Secretary/Treasurer, Debbie Michel, League of CA Cities
Board of DirectorsCarolyn Dominguez, San Luis ObispoThomas Fil, BelmontBret Plumlee, El SegundoPauline Marx, San FranciscoLisa Hildabrand, CarlsbadViki Copeland, Hermosa Beach
Committees
AdministrationDavid Cain, ChinoCathy Lucas, StocktonBob Biery, Westlake VillageJim McAdler, WindsorJoan Michaels Aguilar, CovinaStephen Conway, Los GatosAnnual SeminarJesus Nava, BurlingameRuss Fehr, SacramentoDennis Danner, Newport Beach
Budgeting & Management ReportingAgnes Walker, So. Bay Regional Public
Communications AuthorityGina Schuchard, Santa ClaritaPamela Arends-King, Santa AnaCindy Guziak, Orange County Fire
Authority Anita Lawrence, CamarilloLaura Nomura, Hemet
Career DevelopmentRonnie Campbell, LakewoodChristy Pinuelas, CamarilloGreg Baird, ModestoMary Bradley, SunnyvaleMargaret Moggia, Central West Basin Municipal Water District
Fiscal PolicyTracey Hause, ArcadiaJosh Betta, South PasadenaRobert Sousa, BeneciaIrwin Bornstein, Mission Viejo
Membership BenefitsKaren Brust, San Diego Water AuthorityGenie Roberts, Temecula
Professional & Technical StandardsBill Thomas, Rancho CordovaBill Statler, San Luis ObispoSandra Schmidt, Las Virgenes MWDJesse Takahashi, Campbell
TechnologyJohn Adams, Thousand OaksJulia James, South GateBarbara Boswell, LancasterTamera Haas, HealdsburgMark Moses, StocktonJesse Takahashi, Campbell
I want to leave the Christmas lights on all year round. What’s wrong with that?...“Keep in mind…..to a dog you are family, to a cat you are staff”…And finally, as we form new committees for 2007, remember the five golden rules:o Never arrive on time; this stamps you
as a rookie.o Don’t say anything until the meeting
is half over; this stamps you as being wise.
o Be as vague as possible; this avoids irritating others.
o When in doubt, suggest that a sub-committee be appointed.
o Be the first one to move for adjourn-
“Try Speed Coaching at Annual Seminar”
Want a quick career boost and instant expansion of your professional network? Find out what leading finance profession-als can offer as volunteer coaches to help you succeed. The Speed Coaching session at 3:45 - 5:00 p.m., Thursday, March 8, offers a low-key and fun format. Patterned after the popular speed-dating concept of brief 5-10 minute, no-pressure connections, CSMFO Speed Coaching will help you make new contacts to ad-vance your career. To sign up, send an email to [email protected] with your name and position. If you’d like to include any particular topics for discus-sion, we welcome your requests.
[Note: You must be registered for the An-nual Seminar in Modesto to participate.]
Channel CountiesJanuary 10, 2007
Methods for Auditing Your City’s Property Tax
11:45 AM – 2:00 PMRiver Ridge Golf Club
2401 W. Vineyard Avenue, Oxnard, CAAndrew Nickerson, The HdL Compa-
niesRSVP to Carmen Taylor
805-385-7475 or Carmen.taylor@ci.
(Continued from page 1)President’s Message
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Chapter Meeting Notices
CSMFO MININEWS
Chapter Chairperson Telephone Email Address Central Coast Gayla Chapman 805/473-4552 [email protected] Los Angeles Nella Zipagang 562/860-0311 [email protected] Valley Greg Baird 209/577-5458 [email protected] Counties Christy Pinuelas* 805/388-5358 [email protected] Counties Lettie De Dios 805/385-7475 [email protected] Valley John Falconer 760/777-7150 [email protected] Desert Mountain Cindy Prothro 661/723-6038 [email protected] Bay Mary Dodge 510-215-4312 [email protected] County Veronica Alvarado 760/768/2135 [email protected] Empire Pat Moeder 951/736-2327 [email protected] Bay Marc Pimentel 831/646-3947 [email protected] Coast Bill Mushallo 707/543-3092 [email protected] Counties Steve Strong 530/225-4087 [email protected] Counties Carolynn Thomas* 707441-4114 [email protected] County Esmyrna Jorge 949/707-2626 [email protected] Stuart Schillinger 415/508-2151 [email protected] Valley Susan Mahoney 916/725-2448 [email protected] Diego County Dale Nielsen 760/726-1340 [email protected] Gabriel Valley Mark Alvarado 626/932-5510 [email protected] Bay Stella Georgious 310/524-2324 [email protected] San Joaquin Judy Bier 559/896-7516 [email protected]
* Indicates Senior Chapter Chairs
Online Registration Now AvailableHave you registered?
Have you checked out the Conference Packet?www.csmfo.org
March 6-9, 2007DoubleTree Hotel
Modesto Centre PlazaModesto, CA
2007 Intermediate Government Training Interested in hosting a course at your agency? This course offers participants 8 CPE units and is taught by Moreland & Associates. The course may include discussion on the following: Overview of governmental state-ments; oversight agencies; grant accounting; year-end including looking at a CAFR; and current events. For those interested in hosting at their site, please note that arrangements for announcements and registration is handled by CSMFO. This opportunity provides a great networking opportunity in addition to a wonderful and well-received training.
Members on the moveLaura Nomura has moved to Hemet as their new fi-nance director. Effective January 15th her email will be
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CSMFO MININEWS
CSMFO Chapter ChairsChapter Assistant - Cheryl Yerxa, League of California Cities - [email protected]
Chapter Chairperson Telephone Email Address Central Coast Jennifer SorrensonCentral Los Angeles Eddie Malonzo 562/916-1369 [email protected] Valley Greg Baird 209/577-5458 [email protected] Counties Michelle RomneyChannel Counties Lettie De Dios 805/385-7475 [email protected] Valley Nancy Klukan 760/323-8361 [email protected] Desert Mountain Cindy Prothro 661/723-6038 [email protected] Bay Mary Dodge 510-215-4312 [email protected] County Veronica Alvarado 760/768/2135 [email protected] Empire Pat Moeder 951/736-2327 [email protected] Bay Marc Pimentel 831/646-3947 [email protected] Coast Bill Mushallo 707/543-3092 [email protected] Counties Steve Strong 530/225-4087 [email protected] Counties Carolynn Thomas* 707441-4114 [email protected] County Esmyrna Jorge 949/707-2626 [email protected] Stuart Schillinger 415/508-2151 [email protected] Valley Susan Mahoney 916/725-2448 [email protected] Diego County Dale Nielsen 760/726-1340 [email protected] Gabriel Valley Mark Alvarado 626/932-5510 [email protected] Bay Mike Whitehead 310/377-1577 Mike@South San Joaquin Judy Bier 559/896-7516 [email protected]
* Indicates Senior Chapter Chairs
CONGRATULATIONS NEW CALIFORNIA CPFO’s!By Agnes T. Walker, South Bay Regional Public Communications Authority
The following are the new additions to the growing list of GFOA’s Certified Public Finance Officers: Sreedharan Pis-harath - Supervising Fiscal Officer, City & County of San Francisco; James Sandberg-Larsen – Senior Auditor Evalu-ator, California Bureau of State Audits; Lawrence Tomanek – Assistant Auditor & Comptroller, City of San Diego.
Other candidates are also on their way to earning the CPFO designation: Napoleon Bragado - Supervising Management Analyst, City of San Diego - Pensions & Benefits, Risk Man-agement & Procurement; Rudy Hernandez - Finance Director, Calaveras County Water District - Governmental Accounting, Auditing, & Financial Reporting; Wayne Loo - Accountant II, City of San Mateo – Debt Management;.
In order to become a CPFO, candidates must pass the five-part examination which includes: Accounting, Auditing & Financial Reporting; Cash & Investments; Operating & Capital Budgeting; Debt Management; and Pensions & Benefits, Risk Management & Procurement.
Now, examinations are offered in the spring. In the past, I had requested GFOA to offer the program to coincide with CSMFO’s annual conference but the exam was limited to only two times a year – during GFOA’s annual conference and in the fall. Hopefully, the spring schedule will motivate more CSMFO members to participate. However, at this time, I am not aware of any California cities sponsoring the spring exam but if you are interested, you can take it during the GFOA’s annual confer-ence in Anaheim this June. I plan to coordinate the exam for the 2008 CSMFO conference.
Thank you to Viki Copeland, CSMFO Board Member, and El-eanor Manzano of Redondo Beach, who assisted in proctoring the exams in Hermosa Beach. The City of Belmont also hosted the exam for the candidates up north.
A New Year of good health, happiness, and peace to all!
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CSMFO MININEWS
CSMFO Policies and Procedures UpdateAdministration Committee
The CSMFO Board of Directors approved revisions to the Policies and Procedures Manual at their December meeting. One item the Administration Committee would like to highlight relates to outstanding Mini-News invoices. The following paragraph is an extract from Section XVI Mini-News
Failure to pay any Mini-News invoice in a timely manner may result in the agency or commercial member being pre-cluded from placing further classified ads or professional square ads in the Mini-News or being placed on the CSMFO website until all outstanding invoices are paid in full. The board of directors also has the discretion to place an agency or commercial vendor on a pre-paid cash only payment plan.
As previously reported, members approved the bylaw changes in the special election held this summer. The manual has been updated to reflect the Bylaws change for membership categories.
Commercial SurveyRecently, the Administration Committee e-mailed a survey to 2006 conference attendees. We are looking for feedback from commercial members as to membership rate structure and participation in CSMFO events. The feedback received thus far has been particularly complimentary toward the CSMFO chapter meetings and having conference breaks in the vendor exhibit area as a great way to network. If you have not already participated in the survey, and want to share your opinion, please contact Stephen Dunn, Vice Chair from City of Upland at [email protected].
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CSMFO MININEWS
Members are reminded that all Board meetings are open to all mem-bers. The next meeting is scheduled in March at the beginning of the
Annual Seminar in Modesto.
(Continued on next page)
Yield Enhancement ExchangesRon Homan, Registered RepresentativeFinance 500, Inc.
“For Institutional clients who have investments in their portfolio that are under current market rates.”
YIELD ENHANCEMENT EXCHANGES: A technique whereby an investor chooses to sell one security and simultaneously purchase another with the proceeds from the sale. This strategy is commonly used when an investor sells a lower-yielding investment to buy a higher-yielding one.
Many institutional investors must place funds on a con-tinual basis, regardless of the changing interest rate cycle. Given this fact, it is likely that you too, as an insti-tutional investor, now have several lower coupons in your portfolio. Not only are you receiving less income than current market rates, but you also have market values that are below your cost basis, thus further degrading your portfolio’s performance.
“Yield Enhancement Exchanges” can help you re-struc-ture your portfolio to:Increase interest income;Bring the value of your assets closer to the current market;Improve the composition and performance of your portfolio; Create liquidity and diversification;Structure the portfolio to maximize your total return; Benefit from interest rate changes, while protecting your holdings.
Institutional investors have used this method for years to take advantage of current market conditions, increase their income, and keep their portfolios up-to-date as the interest rate cycle changes. You too can implement this strategy to meet your investment objectives.
TWO COMMON STRATEGIES USED FOR “YIELD ENHANCEMENT EXCHANGES” ARE:
A. Sell an existing investment at current market, take the profit/ loss, and buy a new investment at current market rates.
This is the most common method; however, it does have certain drawbacks. You will take a capital loss on the sale of the existing investment, and if the reinvestment is callable, you risk having that new investment called prior to earning enough interest to recoup the loss taken on the original investment.
Note: You can mitigate this risk by buying a new in-vestment that has a “call-lockout” provision – this pre-vents the new securities from being called until you have earned enough interest to recoup the loss.
Example #1: Sell $100,000 FNMA, 3.00% coupon, 4-year original term with 2 years remaining until ma-turity @ .98. You will realize a $2,000 capital loss.
Example #2: Buy $100,000 FHLB, 5.00% coupon, 4-year callable @ par.
Net Effect: You get out of a 3.00% coupon now, rather than hold it for another 2 years, and take a $2,000 loss. However, you increase yield by 200 basis points and thus increase annual income by $2,000.
The new investment has a 4-year final maturity, but because of the call feature, it only has a 1.7-year effective duration* (see further info on “effective du-ration” at bottom). The Breakeven point to recoup $2,000 loss = 12 months. As mentioned previously, the new investment should therefore have a call feature of 1 year or longer, so that the bond is not called prior to re-couping the $2,000 loss.
B. Sell the existing investment at book/ par, take no loss, and buy a new investment at a higher rate (although not necessarily as high as current market rates). Utilizing this method, you do not book a loss, and you do not have to worry about buying a new investment with long-term call features or otherwise concern yourself with recapturing a loss – there is no loss, unlike in Strategy A. [Note: The Broker-Dealer must agree to execute the new purchase at par, even though the current market value of that bond may be below par.]
Example #1: Sell $100,000 FNMA, 3.00% coupon,
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CSMFO MININEWS
(909) 861-4335(888) 861-0220
www.hdlcompanies.com
• Sales TaxProperty TaxBond ProjectionsRevenue Mapping
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MORE REVENUE!Audits, Analysis & Software
(Continued from previous page)
4-year original term with 2 years remaining until maturity @ par (No loss).
Example #2: Buy $100,000 FHLB, 4.00% coupon, 4-year callable, with an effective duration of 1.7 years
Net Effect: You get out of a 3.00% coupon now, at par, rather than hold it for another 2 years, and take no loss; you also increase your yield by 100 basis points, thus increasing annual income by $1,000.
Investors utilize this method because they can sell the original investment at par and take zero loss, and then can buy a new investment, also at par, which provides a better and higher rate (although typically that rate is somewhat below current market rates). Simply put, this strategy increases the yield and overall return on monies invested.
One caveat to this particular strategy is that you usually need to extend duration on the new investment. Sec-ondly, you should note that the market value of the new investment you purchase might be somewhat lower than the market value of the original bond you sold. Keep in mind, however, that market values are only paper losses (or paper gains), whereas the additional interest income you receive, is actual cash flow.
“Yield Enhancement Exchanges” provide a valuable tool for individuals and institutions that are responsible for fixed income portfolio management. If you have a $10,000,000 portfolio with investments yielding 3.00% and you swap those investments to 4.00%, then you have effectively increased the portfolio’s annual income by $100,000.
Note 1: In order to implement Strategy B, a willing and competent Broker-Dealer is necessary.
Note 2: Consult your applicable accounting and tax guidelines, or advisors for your specific accounting and tax requirements.
* The term “effective duration” denotes the estimated life (maturity) of a callable security. Commonly used in the fixed-income industry, the estimated duration for a given investment can be found on Bloomberg by looking at the “Description” sub page for a specific investment. The calculation of effective duration is derived by taking the average of several estimates obtained from various con-tributing swap dealers, who look at such things as option volatility and pricing levels for Treasuries, mortgages, corporates and other fixed income securities, and then use these figures as benchmarks for determining the comparable duration of whatever callable security is under review. The facts that a given callable security has an “ef-fective duration” in no way guarantees that that investment
will in fact be called early or have a shortened maturity. The investment could very well last until its stated maturity date, rather than its estimated “effective duration”.
Other Disclosures:
The securities and strategies discussed in this article may not be suitable for every investor and should not be relied upon in connection with a particular investor’s trading. The examples are strictly for illustration purposes only. Investment decisions should not be based exclusively on the information contained in the article. As with any invest-ment, there may be potential losses with this strategy. Any decision to purchase a security should be based on careful due diligence by the investor or by independent investment and tax professionals who are familiar with the investor’s investment objectives and financial situation.
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CSMFO MININEWS
Contribute to the CSMFO MiniNewsCSMFO encourages members to share items of interest with other local finance officials. If your city or agency has successfully addressed a fiscal problem, implemented a new program or just have some great ideas, we want to hear from you. Your comments on current fiscal issues are also welcome. Please forward your articles to Cheryl Yerxa at [email protected] by the monthly deadline of the 25th.
Editor’s NoteIt is the policy of CSMFO to permit articles of interest to be published for their educational or reference value in the MiniNews. The Board advises readers of these articles that the Board makes no endorsement or verification of accuracy of cited references. Readers are reminded that such articles are the opinion of the article’s author.
Up the LadderSee our website – www.csmfo.org – for more jobs
PAYROLL ANALYST, City of Bell Gardens, CA. Salary: $3,951- $4,803. Under limited supervision, performs a variety of professional, administrative, and analytical duties related to the city’s payroll. Ensures the accurate process-ing of wage and other compensation payments to exempt and nonexempt employees in a range of bargaining units; prepares and enters city-wide fi-nancial data to include payroll labor and benefit expenses; reviews and updates employee tax and CalPERS retirement records in accordance with prevailing tax codes and legislative mandates; issues W-2; processes garnishments; prepares electronic funds transfer for Federal, State, and SDI taxes; pre-pares quarterly and annual processing of payroll tax paperwork, including 941 taxes; state withholding and generates year-end W2; performs miscellaneous job-related duties as assigned. Mini-mum qualifications: Graduation from accredited college with emphasis on Business Administration or related field and three years of payroll experience in a public agency. Final Filing Date: OPEN UNTIL FILLED. To obtain ap-
BUDGET MANAGER, City of Burbank, CA. Base salary: $6,706 to $8,148/month plus superb benefits including city-contributed retirement plan, caf-eteria-style health benefits, and tuition reimbursement. An outstanding career opportunity is available with the City of Burbank, a thriving community in south-ern California’s world-class media cen-ter. Working under general administra-tive determination, you will assist in the planning, organizing, and direction of all operations within the budget section of the Financial Services Department; act for the Financial Services Director as requested; and perform related work as needed. This challenging position requires any combination of education and/or experience that has provided the knowledge, skills and abilities for acceptable job performance (i.e. a de-gree in finance, accounting, public or business administration or related field from an accredited university and four years of progressively responsible ad-ministrative and supervisory experience in public finance or administration.) A valid CA Class “C” driver’s license or equivalent is also required. Resumes will not be accepted in lieu of a City of Burbank application. To obtain an application, please visit Human Re-
sources, call our 24-hour Jobline (818-238-5000), or visit our website (www.ci.burbank.ca.us) and return completed application to Human Resources, City of Burbank, 301 E. Olive Avenue, Suite 101, Burbank, CA 91502. EOE.
ACCOUNT CLERK, City of Capitola, CA. (3/4 Time), Salary: $18.65 to $22.67/hour plus benefits. For infor-mation and application materials con-tact City of Capitola, 420 Capitola Ave., Capitola, CA 95010, (831) 475-7300 or visit www.ci.capitola.ca.us. Closing Date is 5:00pm on Jan. 10, 2007.
SENIOR ACCOUNTANT, City of Del Mar, CA. Salary: $60,571 - $73,624 plus generous benefits package. This position requires an undergraduate degree in accounting, finance, busi-ness administration or related field. Ideal candidate would be a customer service oriented, highly motivated individual with at least five years of progressively responsible accounting experience performing a wide range of complex professional accounting duties in the analysis, preparation and maintenance of financial records and reports including the city budget and
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CSMFO MININEWS
Up the Ladder...CAFR. This position will supervise the work of other accounting employees and act as Finance Director in that individual’s absence. With its beautiful beaches, dramatic cliffs, and Torrey Pine covered hillsides, Del Mar is well known as a premier location to work and play. Application materials and complete job description available at www.delmar.ca.us. Submit required city application and resume to City of Del Mar, Senior Accountant Recruitment, 1050 Camino del Mar, Del Mar, CA 92014 or send a SASE requesting an application to be mailed to you. Application Deadline:
FINANCE MANAGER, City of Dublin, CA. Salary: $86,616 - $108,276/year; 2.7%@55 CalPERS retirement plus great benefits! Requires a BA in Ac-counting or Public Administration plus four years experience in municipal finance or accounting. Apply online at www.CalOpps.org by 2/26/07 or call (925) 833-6605 for application packet.
ACCOUNTANT, City of Lakewood, CA. Salary: $3,663 - $4,453 /month, plus excellent benefits. The City of Lakewood is seeking a knowledgeable and responsible individual to fill the position of accountant for the Finance Department. Under general supervi-sion, the accountant performs complex technical accounting work in maintain-ing the accounting records of the city and Redevelopment Agency; assists in the preparation of financial statements and a variety of accounting reports and city budgets; and does related work as required. The ideal candidate will be knowledgeable about generally accept-ed accounting principles, practices and methods, including budgeting and au-diting and their application to municipal operations; internal control procedures and management information systems; office automation and computerized financial applications; public finance and fiscal planning. Any combination of education and experience, which pro-vide the required knowledge, skills and
abilities is qualifying. A typical example would be a Bachelor’s degree in Ac-counting, Finance, Public or Business Administration, or a closely related field and two years of responsible, professional accounting experience. Municipal experience is desirable. Ap-ply by January 22, 2007 at 5:00 p.m. Contact Personnel, City of Lakewood at (562) 866-9771 ext. 2210 or www.lakewoodcity.org. EOE.
BUDGET MANAGEMENT OFFICER, City of Long Beach, CA. Salary: Mid $80,000s to mid $90,000, based on qualifications. The City of Long Beach (pop. 491,000), the fifth largest city in California, is looking for a progressive, professional Budget Management Officer to oversee the development and implementation of the city’s $2.2 billion annual budget. This demand-ing, yet exciting position is part of a high performance team that also sup-ports the city’s service optimization and Focus on Results Long Beach (FOR) performance management ef-fort. This position reports directly to the Performance Management and Budget Bureau Manager but works extensively with the City Manager’s senior staff, Director of Financial Management and other department directors. The Budget Management Officer supervises five highly skilled and motivated budget analysts within the Budget Management Division, and supports the Director of Financial Management and the City Manager’s Office to: develop and administer the city budget; forecast and report city revenues, develop and imple-ment financial policies; communicate through regular performance reports and ad hoc requests with the city council and the public on significant fiscal issues; serve on technical and advisory committees; and support department efforts to develop and integrate performance management into the budget process. A successful candidate will have at least five years direct experience in municipal financial
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Up the Ladder...management and budgeting, super-visory experience, advanced written and verbal communication skills and a Master’s degree in public admin-istration or a related field of study. Candidates are requested to send (faxes or e-mails will not be accepted) a resume and letter of interest with three references by the close of busi-ness, Friday, January 26, 2007 to John Zanier, Administrative Services Officer, 333 West Ocean Boulevard, Sixth Floor, Long Beach, CA 90802. For additional information please call
FINANCE/ACCOUNTING MAN-AGER, City of Malibu, CA. Sal-ary Range: $90,351 – 117,456. Contact Human Resources at (310) 456-2489 ext. 248. This position is
DIRECTOR OF ADMINISTRATIVE SERVICES, Town of Truckee, CA. Salary: $90,420-$122,052 annu-ally. Truckee, located in the eastern Sierra just north of Lake Tahoe, has abundant scenic and recreation op-portunities and has been consistently rated as a top ski town by national ski-ing magazines. The Town of Truckee is seeking a director to manage the Administrative Services Department which is responsible for Finance, Hu-man Resources, Risk Management and Information Technology. This is a department head position and a key member of the town manage-ment team. The position requires a Bachelor’s degree in Finance, Public Administration or a related field and six years of responsible government experience in finance or accounting with at least three years at the man-agement level. The Town of Truckee is a drug-free work place. The town requires the successful completion of a physical examination, drug screen, background check and a copy of your DMV record. For a detailed position description and employment ap-plication, visit the town’s website at www.townoftruckee.com or call Sheri Diehl, Administrative Secretary at (530) 582-7700. Applications must be received by 5:00 p.m., Friday, Janu-
ary 12, 2007. Send application along with a letter of interest and resume to: Town of Truckee, Town Clerk, 10183 Truckee Airport Road, Truckee, CA 96161. The Town of Truckee is an equal opportunity employer.
ACCOUNTING SUPERVISOR, City of Ventura, CA. Salary: $70,441 to $94,392/year plus excellent benefits. The City of Ventura, a beautiful sea-side community, seeks a professional accountant to oversee daily operations of the city’s General Accounting and Accounts Payable sections. Requires a BA in Accounting and five years experience including supervision of professional accounting staff. California public agency experience preferred. CPA desirable. Apply immediately at www.cityofventura.jobs or (805) 654-7853. EOE
FINANCIAL MANAGEMENT ANA-LYST (Revenue Management), City of West Hollywood, CA. Salary Range: $5,772 - $7,375 month. Seeking an An-alyst/Accountant with experience in risk analysis, contracts, grants accounting and fiscal reporting. Coordinates con-tractual risk transfer program, including review of insurance requirements and certificates; performs accounting func-tions for grants; develops and reviews outside agency grant fiscal reports, allocations and budgets; coordinates fiscal site visits and audits; maintains contract templates and handbooks, and provides technical assistance to staff and agencies. Requires a Bachelor’s Degree in related field and four to five years of experience. Resumes only not accepted! For application and supple-mental materials, call the job hotline at (323) 848-6309 or visit our website at www.weho.org/jobs. Closing Date: January 26, 2007 at 4:00pm.
CUSTOMER SERVICE SUPERVISOR (BILLING), Western Municipal Water District, Riverside, CA. Monthly Salary: $4,558.83 –$5,983.41 This energetic individual will provide leadership, su-pervision, and training to a five member team performing billing and customer
service functions for 21,000 water and sewer accounts. Seven years of increasingly responsible experi-ence. Graduation from a four-year college or university with major coursework in business adminis-tration, public administration, or a related field is preferred. Any combi-nation of experience and education that would prepare the candidate for the duties and responsibilities of the position is acceptable. Apply at 450 Alessandro Blvd. Riverside, CA 92508; online: www.wmwd.com or call (951)789-5063. Open
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CSMFO MININEWS
Do you remember that you can update your member information online? Please help us to keep your contact information current. www.
csmfo.org
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Corporate TrustMunicipal Custody
San FranciscoAndy Jeremi, Vice President
(415) 705-5043Los Angeles
Carl Boyd, Vice President (213) 972-5683
2005 Union Bank of California N.A. Member FDIC
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